Fisher Asset Management LLC Acquires 18,147 Shares of Alkermes plc (NASDAQ:ALKS)

Fisher Asset Management LLC increased its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,785 shares of the company's stock after purchasing an additional 18,147 shares during the quarter. Fisher Asset Management LLC owned 0.16% of Alkermes worth $7,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ALKS. Bayesian Capital Management LP bought a new position in Alkermes during the 1st quarter valued at about $333,000. Tidal Investments LLC bought a new position in Alkermes during the first quarter valued at approximately $441,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Alkermes by 26.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 221,257 shares of the company's stock worth $5,990,000 after purchasing an additional 45,903 shares during the last quarter. GAMMA Investing LLC grew its position in Alkermes by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company's stock worth $55,000 after purchasing an additional 703 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in Alkermes by 120.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 47,812 shares of the company's stock valued at $1,152,000 after buying an additional 26,112 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALKS. Stifel Nicolaus upgraded Alkermes from a "hold" rating to a "buy" rating and raised their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. Cantor Fitzgerald cut their price target on Alkermes from $48.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on shares of Alkermes from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. HC Wainwright restated a "neutral" rating and set a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $37.00 price target (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Alkermes presently has an average rating of "Moderate Buy" and an average target price of $35.42.

Insiders Place Their Bets

In other Alkermes news, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the transaction, the senior vice president now owns 60,703 shares of the company's stock, valued at $1,769,492.45. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig C. Hopkinson sold 58,996 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the transaction, the executive vice president now owns 83,300 shares of the company's stock, valued at approximately $2,505,664. The trade was a 41.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,675 shares of company stock worth $2,235,622 in the last three months. 4.89% of the stock is owned by company insiders.

Alkermes Price Performance

ALKS stock traded down $0.30 during trading on Friday, reaching $29.02. The company's stock had a trading volume of 550,117 shares, compared to its average volume of 1,820,018. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The company's fifty day moving average is $28.01 and its 200-day moving average is $26.52. The company has a market capitalization of $4.70 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.97 and a beta of 0.47. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $32.88.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.